MEXCBNB Price Eyes Rally as Double-Bottom Aligns With Token Burn, Transactions Surge
Highlights
- BNB price has formed a double-bottom pattern on the daily timeframe chart.
- The BSC network has become one of the fastest-growing chains in crypto.
- The network’s burn rate has continued rising in the past few months, a trend that may continue.
The BNB price remains under pressure below the important support at $1,000. It has crashed by nearly 32% from the year-to-date high, mirroring the performance of other tokens. Still, its double-bottom pattern, coupled with its rising token burn and transaction count points to more upside in the near term.
Frequently Asked Questions (FAQs)
1. What is the most likely BNB price forecast?
2. What are the other bullish catalysts for the Binance Coin price?
3. Will the BNB price rise and retest its all-time high?
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